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Protherics PLC
Completion of MacroMed Acquisition
London, UK; Brentwood, TN, US; 4 January 2007 - Protherics PLC ("Protherics" or
the "Company"), the international biopharmaceutical company focused on critical
care and cancer, announces that its acquisition of MacroMed, Inc., a private US
based drug development and manufacturing company, has completed at 4.00 pm GMT
(9.00 am MST) today.
Terms used in this announcement shall have the same meaning as those used in the
Company's prospectus dated 7 December 2006.
| Ends |
For further information:
Protherics
Andrew Heath, CEO +44 (0) 20 7246 9950
Barry Riley, CFO +44 (0) 1928 518 000
Julie Vickers, Company Secretary +44 (0) 1928 518 010
Saul Komisar, President Protherics Inc +1 615 327 1027
Or visit www.protherics.com
Notes for Editors:
About Protherics
Protherics (LSE: PTI, NASDAQ: PTIL) is an integrated biopharmaceutical company
focused on the development, manufacture and marketing of specialist products for
critical care and oncology.
Protherics' strategy is to use the revenues generated from its marketed products
to help fund the advancement of its development pipeline. With a proven track
record, Protherics' goal is to develop and attract additional critical care and
cancer products for its sales and marketing teams to distribute in the US and
Europe.
The majority of the Company's sales revenues (£17.7m in the year ended 31 March
2006) are derived from two critical care products, CroFabTM (pit viper
antivenom) and DigiFabTM (digoxin antidote) which were developed by Protherics
and are sold, in the US, through Fougera Inc, a division of Altana AG.
Protherics potentially has two blockbuster opportunities in its critical care
franchise. CytoFabTM, is being developed by AstraZeneca for the treatment of
severe sepsis, and is expected to start an additional phase 2 study in 2007. In
addition to the MacroMed Acquisition, the Company has today in-licensed
intellectual property from Glenveigh (a private US based company) relating to
the use of anti-digoxin polyclonal antibody fragments such as DigiFabTM and
GSK's Digibind(R) in the treatment of pre-eclampsia and eclampsia. Glenveigh is
currently undertaking a phase 2b study with Digibind(R) which Protherics expects
to report in 2007.
Following the completion of the MacroMed Acquisition, Protherics now has four
cancer products in development, including VoraxazeTM. VoraxazeTM is expected to
be approved, subject to regulatory reviews, in the EU in H1 2007 and in the US
from H2 2008, as an intervention when methotrexate blood levels remain
dangerously elevated following high dose therapy for the treatment of cancer.
Protherics is planning to build its own sales force to undertake the sales and
marketing of VoraxazeTM. In addition, the Company is developing its Angiotensin
Therapeutic Vaccine for the treatment of hypertension.
With headquarters in London, following the acquisition of MacroMed, the Company
has about 260 employees across its operations in the UK, US and Australia.
For further information visit: www.protherics.com
Disclaimer
This document contains forward-looking statements that involve risks and
uncertainties, including with respect to Protherics' product pipeline and
anticipated product development. Although we believe that the expectations
reflected in such forward-looking statements are reasonable at this time, we can
give no assurance that such expectations will prove to be correct. Given these
uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. Actual results could differ materially from those
anticipated in these forward-looking statements due to many important factors,
including the factors discussed in Protherics' Annual Report on Form 20-F and
other reports filed from time to time with the U.S. Securities and Exchange
Commission. We do not undertake to update any oral or written forward-looking
statements that may be made by or on behalf of Protherics.
This information is provided by RNS
The company news service from the London Stock Exchange
Protherics PLC announces Acquisition Update
| Source: Protherics PLC
Cheshire, UK -- (MARKET WIRE) -- January 4, 2007 --